Cyprus (Real GDP, yoy %)
Consensus (median)
High estimate53.32.5
Low estimate21.42.5
Standard Deviation0.70.50
Count of Estimates1681

I witnessed that due to offshore tax reform in Russia (of controlled foreign companies) a lot of Russian companies had to moved and are moving into Cyprus. The building construction (for offices and residential properties) is underway with its considerable paces.


Nicos Anastasiades has just been re-elected for another 5 year-term. His main priority to find gas offshore at all cost. They have been drilling wells to find gas deposits for almost 3 years back. As I see the only we have is that ENI published something like very encouraging perspective. It would be great if they published real figures and cost associated with extraction in order to estimate the feasibility of this grand potential. Moreover Turkish side of Cyprus is continuously objecting any gas search works. In my humble opinion this is all-time on-going searching business and a mask to earn political capital for government team and no more.